Misfit & Balder association

The partnership between Misfit & Balder speciality foods seems to be a perfect example of social enterprises working in unison to create an impact. The duo believes in adding value to their products in the market by using the unused fruits & vegetables that are being thrown away as waste. The misfit is a Washington based startup founded by Phil Wong & Ann Yang in 2005 deals with cold pressing juices from fruit scraps. The innovative idea by the founders believes in creating product lines by converting one man’s trash to other man’s treasure. Around the globe, huge quantities of food are getting wasted, so the message is loud & clear from Misfit that they want to be in the forefront to fight this social issue with innovative ideas.
So the duo has decided to tie up with “Balder” one of the leading distributors of neatly cut fresh fruits & watermelons in the market. The process of producing neatly cuts fruits creates wastages daily, So finding this is an opportunity in 2016 Mist fit juicy has successfully tied up with Balder. Although balder is a large corporation involved in the distribution of perfectly sliced fruits to the grocery shops in the Northeast, yet they were clueless in minimising the wastages during the process. Amid all the daily wastages Balder has agreed to sell its carrot tops and trimmings to misfit, This resulted in a significant reduction of wastage of food materials, wastages, Henceforth after the tie-up with misfit, balder started generating a fresh revenue stream by addressing the issue of food waste by associating with a social enterprise.

The partnership between misfit & Balder speciality foods seems to be a perfect example of social enterprises working in unison to create an impact. The duo believes in adding value to their products in the market by using the unused fruits & vegetables that are being thrown away as waste. The misfit is a Washington based startup founded by Phil Wong & Ann Yang in 2005 deals with cold pressing juices from fruit scraps. The innovative idea by the founders believes in creating product lines by converting one man’s trash to other man’s treasure. Around the globe, huge quantities of food are getting wasted, so the message is loud & clear from Misfit that they want to be in the forefront to fight this social issue with innovative ideas.
So the duo has decided to tie up with “Balder” one of the leading distributors of neatly cut fresh fruits & watermelons in the market. The process of producing neatly cuts fruits creates wastages daily, So finding this is an opportunity in 2016 Mist fit juicy has successfully tied up with Balder. Although balder is a large corporation involved in the distribution of perfectly sliced fruits to the grocery shops in the Northeast, yet they were clueless in minimising the wastages during the process. Amid all the daily wastages Balder has agreed to sell its carrot tops and trimmings to misfit, This resulted in a significant reduction of wastage of food materials, wastages, Henceforth after the tie-up with misfit, balder started generating a fresh revenue stream by addressing the issue of food waste by associating with a social enterprise.

Striking right partnership

The association between Misfit & Balder is a classic example of aligning one’s own business with a social enterprise to gain an advantage in the marketplace. The partnership with a social enterprise in today’s world increasingly makes more sense. It also helps both partners in creating social impact by keeping their bottom line in sync with the overall business objective. I think these models can be emulated better in developing markets like India in a big way. Traditionally every organisation gives more importance to improve their bottom line through delivering better value to its shareholders & investors. Now it is time to think beyond this notion in order to create a better social impact in the society. Founders of the Misfit feel sustainable business relationships not only add value overall but also helps to create a better social impact. In this case, Misfit as an organisation is successful as a social enterprise to leverage its strengths to create an authentic impact by addressing the pain points faced by large organisations. So any forward-thinking organisation for that matter can reap real benefits socially and financially by associating with such social enterprises.

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Social business

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Nobel laureate Mohammed Yunus from Bangladesh defines social business as a self-sustainable business created, designed to address the social problems. The social business is a not a new model per se, but it is a new approach of looking at the business with a different perspective to create maximum social impact in the society. The social business model requires new thinking with the aspect of creating maximum value in the society taking the community and the people together for a common good. When the business entity starts focussing the new path it bounds to create altruist impact in the society. However, it should be based on acceptance, embrace the problems faced by the society through collective action with an objective to bring perceptible changes in the quality of life of people. This new approach could create a lasting impact on the society by accepting, collectively to create opportunities for everyone in the community. Besides, that approach has the potential to create an environment of right balance and hence can act as a catalyst for change. Also, the new role if adopted can alter the existing business’ equation significantly in the society by becoming more inclusive in approach & behaviour.

Social business a moment of truth

Time has come for business houses to realise the moment of truth by thinking the way it conducts its business. The moment of truth means business houses need to think and behave as if they are part of the environment and society in which it operates. The moment they see themselves as a separate entity from the society, it leads to the creation of more friction with its external stakeholders and also cannot strike a right chord with the society.

Importance of shared value creation

The current business practices have created enough mess on the environment and society, So the situation certainly calls for a shared value creation means business houses need to extend their hands towards society in which they operate. The decision makers and the employers should internalise themselves the consequence of their action on the society. Henceforth a constant effort and need of the hour is to bring business and society together. Also social business to a great extent can create social harmony and sustainable growth.
Nestle the Global multinational giant has redesigned its coffee procurement process working extensively with small farmers who were trapped in low productivity and poor quality due to environmental degradation. The role of Nestle as a company in giving advice on new farming practices, providing the farmers with plant stocks, distributing fertilizer and pesticides and last but not least company paid the farmers in premium for cultivating quality coffee beans. The social impact created by this move has helped the small farmers in distress and improved their economic benefits and also helped to improve their quality of life.

Impact investment via social business.

Resourceful action seriously can create an impact in the society and could solve the problems faced by society at large, provided stakeholders of the company to act creatively with a mind to usher maximum positive impact in the society. The existing capitalistic business models has been creating unequal scenarios and sapping resources with no remorse has already weakened the nature and society . So going forward if they continue to do same means it would create detrimental effects on the community, natural resources and economy. So social business is the new model of capitalism where owners decide not to take the dividends but keep reinvesting the financial resources for new social business ideas in order to a create much larger impact in the society. Besides, that concentration of wealth in the hands of few can be reduced and effective deployment of resources to the population at the bottom of the pyramid.

 

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Governments’ role as a facilitator

Elected government through its administration alone cannot suffice the role in bringing radical changes in the society and it has proven beyond doubt that collective effort from business houses and industry leaders could bring a very positive and impact full change in the status quo. So Government as a dispensation should become more of a facilitator in framing new laws and policies for a smooth operation of social business models across different areas. Since the magnitude of the problems faced by the majority of the population is huge, it is also equally important that all stakeholders in the society should think and act with empathy to get rid of the issues faced by the society. Hindsight issues at hand certainly ask for fundamental changes the investment made on business and how the profits made out of the business get redeployed to create maximum social impact. The government should come forward with policies to create an environment for such a smooth transition. When proper policies are in place might pursue business houses and its owners to proactively take up the most pressing issues in the society and unitedly find solutions by giving the opportunity for everyone’s sustenance.

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To make innovation counts

helpusgreen founders

The river Ganges holds such an important place in the collective consciousness of our nation perhaps its significance stems from its  tradition & mythology. River Ganga is  India’s largest and most vital fresh-water resources. But the irony is that it is among the most polluted river in the world. Although we revere the river Ganga as a mother goddess, however, on the other hand, the river gets polluted by our irresponsible behaviour by allowing the sewage water & solid waste from household and industries. The pilgrims add more than 8 million flowers each year into the river as a part offering prayers to god. The resultant action pollutes the water more with harmful chemicals used on the flower which can lead to waterborne diseases like cholera, dysentery, hepatitis & diarrhoea.

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In 2015, the childhood friends Ankit agarwal and Karan Rastogi cofounded a social enterprise called HelpUsGreen. The aim of this enterprise is to devote their time and resource in reducing the pollution in river Ganga. The Team collects the discarded flower before it gets into river and processes them to create 100 percent Vermi-compost fertilizers and also manufactures incense sticks . The enterprise targets European and Indian markets to sell their organic products . HelpUsGreen employs women folks from the lower strata of the society and helps them to get empowered financially as well as delivering on the objective of reducing the pollution of this giant fresh water river. The team of women employed with Help Us Green collects 1.5tons of flowers daily from temples and mosques and convert it into organic fertilisers and incense sticks. 

Helpusgreen also has plans to expand its product ranges to bath soaps, chemical free products, natural body cleaners. So this  is one such social enterprise initiative which can deliver benefits in terms of reducing pollution, create avenues of people to get employed , also protecting the environment from waste accumulation . This kind of initiatives which uses the potential of resources and keeps their utility to the maximum by following innovative business practices, also creates value along with its process.